The Obama Stock market is soaring on new home sales’ 4.7 Percent increase in January, but if you are experienced in how to read economic reports in detail, in reality the sales report is terrible. Consider the following:

Government statisticians have low confidence in the monthly sales report, which is subject to sizable revisions as well as large sampling and other statistical errors.

The median sales price fell to $200,900, down a record 18.1% compared with February 2008. This is the lowest median price since December 2003.

Inventories of unsold homes in February represent a 12.2 month supply at the current sales pace, another record on the wrong side.

The government revised January’s sales pace for new homes to 322,000 units, the record low for the series that started in 1963.

GOT THAT? JANUARY SALES ARE THE LOWEST SINCE 1963!

The February level is the second lowest level on record.

Wall Street has to be insane to consider these numbers encouraging.

January and February are the two lowest sales levels in history, and the difference between the two months is sampling error.

But wait, it gets even worse: The figures may overstate the level of sales, because they count canceled sales contracts, which have jumped in the past year.

Anyone who buys stocks based on this report deserves to get the Obama Rate of Return, ZerObama.

Obama’s policies punish savings more than any President in history. Under “Change you can believe in” short term investments earn only 0.25 percent. That is less than the postage to send a check to the bank, and postage is going up while interest rates go down, and less than the gas money to drive to the bank.

CD rates for a year and longer only earn around 2 percent. Our savings cannot keep pace with inflation. China, France and Russia all want to dump the dollar because of the inflation Obama will cause, yet our savings earn nothing compared to inflation.

Under Obama, every dollar saved will become 90 cents, then 80 cents, then toilet paper.

So why save?

Exactly how is Obama moving us to save?

We lost more than half our savings in the stock market. Yes, there is a rally this month, but who can trust it to continue when businesses are closing down in every town at the same time that more jobs are moving to Communist China.

Perhaps Communism works better than Barackism Socialism? Communist China is not going bankrupt, but America is.

And to cap it off, Obama wants to raise taxes on any profits we might ever make in the stock market?

And Obama wants to raise taxes on interest and dividend income.

Exactly how is Obama moving us from borrow and spend to save and invest?

Every Presidential press conference in my lifetime has been characterized with the reporters hollering for the President’s attention, but not with Obama! The reporters waited in uncharacteristic stoic silence, without even a hand gesture, as Phony Obama read each reporter’s name off the new giant teleprompter.

Then each reporter read the question that had been prearranged and rehearsed in advance, and Obama read the answer that David Axelrod and Gibbs had written for him.

Now that Obama’s slavish bond to the teleprompter has generated a website mocking him and his teleprompter, Axelrod banished the normal reflective glass teleprompters from the front of the podium to avoid the mockery.

But Brainless Barry cannot speak without a script, so they set up a giant TV screen behind the reporters, displaying the script exactly as it would appear on the old fashioned teleprompter. Obama slavishly read every word that he spoke from the giant TV screen. They even faked the girl pretending to be surprised when he called her name.

To continue the theater, they even had Barry fake impatience with the question about why he waited days before commenting on AIG. What a fake joke! AIG is nothing but a sideshow to distract us from the real disaster, the trillions and trillions of dollars of deficits that even France, Russia and China cannot stomach. Even these Socialist nations comprehend that Obama is destroying the value of our currency, and these nations want some new currency that will be worth more than a “25 cents on the dollar Obama Dollar.”

The Ten Dollar loaf of bread and Ten Obama Dollar gallon of gas will happen during Barry’s first term.

Is it legal to refer to our black President as “slavish?” But he is enslaved to the teleprompter, no matter what its form.

Nobody in their right mind should buy a house today. If you have to relocate, you should rent, not buy. Home prices just keep dropping as Obama gives confidence to nobody.

Sales of existing homes unexpectedly plunged in January to the lowest level in nearly 12 years as pessimism about the economy grew. sales nationwide fell 7.6 percent from a year earlier. The median sales price in January plunged to $170,300, down 14.8 percent from $199,800 a year earlier and from $175,700 in December. It was the lowest price since March 2003 .

Historically, real estate corrections take prices back ten years, and so far prices are only back six years, to 2003 levels.

So it is too early to buy based on past cycles.

But this is worse than past cycles because the government is meddling with the free market, thereby artificially prolonging and deeping the decline.

If the government stopped bailing out deadbeats, the market might stabilize within a year at perhaps 15 percent lower prices.

But with the Food Stamp President keeping the free market from working, the decline will last longer.

Obama must shut down Fannie Mae and Ginne Mae and ban the sale of securitized mortgage backed securities.

All I see on TV is more and more dirty Commie programs to wipe out free enterprise, prolong the recession, and permanently mess up the economy and our future.

Everything Obama wants to do just interferes with our normal recovery process. Home prices need to go lower so that the average person can afford a home at normal interest rates. NOT WITH A GOVERNMENT SUBSIDY OF MONEY STOLEN FROM MY FAMILY

It seems as though our first President who was raised on food stamps wants to make us all need food stamps to justify the way he was raised.

His job creations stimulus does not create any permanent private sector jobs. All the jobs he creates go away the second he stops spending a trillion a year on disguised, falsely labeled welfare jobs.

On February 12, 2009, Barack Obama made a speech in Peoria Illinois, gathering support for his stimulus plan. Here is a cut and paste quote of Barack Obama’s exact words taken from Lynn Sweet’s Sun Times article covering the speech:

“Yesterday, Jim (Owens), the head of Caterpillar, said that if Congress passes our plan this company will be able to rehire some of the folks who were just laid off.”

Not exactly, Barry Baby.

Minutes later network television reporters cornered Jim Owens on live TV, the President of Caterpillar, about how soon Caterpillar would start rehiring and how many would be rehired as a result of Barry spending $787 billion of money we would have to borrow on our credit cards from China.

Mr. Owens said that actually, regardless of what happens with the stimulus package, Caterpillar would have to lay off many more employees before ever beginning any rehiring.

And this is my problem with Barack Obama. He tells whooper lies, Obama says anything, absolutely anything no matter how outrageous, to help his campaigns, with no regard to the truth.

Didn’t Brainless Barry realize that the media were all over the speech site? After all, Barry invited them?

Didn’t Brainless Barry realize that the media were highly likely, in fact almost certain to ask the president of Caterpillar about Barry’s claim of immediate new jobs?

Barry just cannot think anything through. Barry cannot comprehend the consequences of his words and promises, just like when he promised that tax cheat Tim Geithner was the only person who could save the financial system, with the consequence that when Geithner opened his mouth and had no plan, nothing at all to say whatsoever, the investors ran for the hills and the stock market resumed crashing.

Barack Obama, you have to grow up and stop saying any lie that jumps out of your hare brain.